SARB fights to reclaim R16m in crypto over outdated forex laws

SARB fights to reclaim R16m in crypto over outdated forex laws

A recent judgement finds that Bitcoin can’t be regulated under apartheid-era exchange control rules. The South African Reserve Bank (SARB) is appealing a Pretoria High Court ruling that set aside its forfeiture of more than R16.4 million held by Standard Bank, ruling that apartheid-era exchange control regulations can’t be used to deal with modern-day crypto-currency…

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